Buying a property with delinquent taxes

[ch1ch2]

Update: I have spoken with the attorney employed by the tax assessor-collector, who told me this:
- The full amount of the sale is due that day. In order to bid, I need to have a letter of intent from my bank up to my max bid that says I'm good for the money.
- There is a 6 month right of redemption (this is Texas, btw). The property owner would pay me amount of sale + 15% if they wanted the property back.

I also spoke with a person at a title company, who told me this:
- Tax sales wipe out any existing liens on the property (bankruptcy, child support, etc.), except for federal liens.
- If the there were any federal liens, the feds would probably have taken the property by now.
- I could hire the title company to do a search for me, but it probably won't reveal anything that the county won't find.

The information you received from the title company was the same as what I received.
But, the information you received from the tax assessors attorney is different that the information I received form the tax assessor s attorney in a different county.
What I received is what I posted in post 3.
If you plan on any improvements to the property, I would suggest getting with a private attorney before making those improvements.
I would hate to see you make improvements and them have the previous owner call redemption.

 

[DeutzFahr85]

It wasn't that easy but that was the idea. It took 4 weeks with 2 back holes and 4 men.

Thats exactly how its done in Ohio. I hope there was more than just a house to clean up if took 4 weeks...

 

[ch1ch2]

Thats exactly how its done in Ohio. I hope there was more than just a house to clean up if took 4 weeks...

Yes there was a lot more than the house. There were 4 other buildings full of "stuff" and twice as much more just laying on the ground. At one point he was letting people pay him to dump on his property.

 

[AllenArmory]

The information you received from the title company was the same as what I received.
But, the information you received from the tax assessors attorney is different that the information I received form the tax assessor s attorney in a different county.
What I received is what I posted in post 3.
If you plan on any improvements to the property, I would suggest getting with a private attorney before making those improvements.
I would hate to see you make improvements and them have the previous owner call redemption.

The property is vacant land. No houses, no homestead. I think that's the reason the redemption period is only 6 months.

 

[Larry Caldwell]

Talk to a real estate attorney.